What is Kimco Realty Corporation (KIM) DCF Fair Value and Intrinsic Value in 2026?

Kimco Realty Corporation (KIM) intrinsic value is calculated using conservative multi-stage Discounted Cash Flow (DCF) models, 5-year free cash flow trajectories, Graham Numbers, and owner earnings multiples. LocalAlpha tracks real-time margin of safety against live market prices.

What is Kimco Realty Corporation's historical Return on Invested Capital (ROIC) and Moat Rating?

Kimco Realty Corporation operates in the Real Estate sector (REIT - Retail) with an economic moat rating of NONE. LocalAlpha tracks 5-year audited quarterly ROIC, operating margin stability, and balance sheet solvency ratios.

What is Kimco Realty Corporation's financial health rating and Piotroski F-Score?

Kimco Realty Corporation's balance sheet quality is evaluated using the 9-point Piotroski F-Score, Altman Z-Score solvency model, debt-to-equity ratio, and quick/current liquidity coverage to guard against financial distress.

How does LocalAlpha monitor Kimco Realty Corporation (KIM) for quarterly SEC filing thesis breaks?

LocalAlpha audits Kimco Realty Corporation's 10-K, 10-Q, and 8-K regulatory filings on SEC EDGAR within 15 minutes of release. If reported metrics breach an investor's custom ROIC floor, operating margin boundary, or qualitative risk criteria, an autonomous breach audit is dispatched immediately.

StocksKIM

KIM

Kimco Realty Corporation (HC)Real Estate / REIT - RetailINTACT

Kimco Realty is a real estate investment trust (REIT) and leading owner and operator of high-quality, open-air, grocery-anchored shopping centers and mixed-use properties in the United States. The company's portfolio is strategically concentrated in the first-ring suburbs of the top major metropolitan markets, including high-barrier-to-entry coastal markets and Sun Belt cities. Its tenant mix is focused on essential, necessity-based goods and services that drive multiple shopping trips per week. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center ownership, management, acquisitions, and value-enhancing redevelopment activities for more than 65 years. With a proven commitment to corporate responsibility, Kimco Realty is a recognized industry leader in this area. As of June 30, 2026, the company owned interests in 564 U.S. shopping centers and mixed-use assets comprising 100 million square feet of gross leasable space. Kimco Realty Corporation was incorporated in 1958 in Maryland and is based in Jericho, New York.

Share Price

$23.19

52W: $19.76 - $26.65

DCF Fair Value

$29.31

+20.9% MoS

Thesis Hub

P/E (TTM)

27x

ROIC

27.5%

Operating Margin

36.6%

FCF Yield

5.6%

Debt / Equity

0.85x

Piotroski Score

7/9

Altman Z-Score

2.11

Market Cap

$15.6B

Price vs. Intrinsic Value Corridor

Modest Value ($23.19 vs $29.31 DCF)

Historical market price overlaid against conservative DCF Fair Value & Benjamin Graham Margin of Safety bands.

Period Return (1Y)

—()

Period Range

$— - $—

DCF Fair Value

$29.31

MOS Buy Target (-25%)

$21.98

Valuation Overlays: DCF Fair Value ($29.31) 25% MOS Buy Target ($21.98) Revised Graham ($28.38) Graham Number ($17.22)

2-Stage Discounted Cash Flow (DCF) Workbench

Conservative intrinsic value model based on owner cash generation over a 10-year investment horizon. Opens with LocalAlpha's baseline assumptions (matching the fair value shown above) — adjust any input to stress-test.

Current Market Price

$23.19

DCF Fair Value

$29.24

+20.7% MoS

Starting Free Cash Flow ($M)$871M

$100M$871M (Reported)$50,000M

Stage 1 Growth (Years 1-5)18.0%

-5%10% (Target)35%

Stage 2 Growth (Years 6-10)4.5%

0%5%20%

Discount Rate (WACC / Hurdle)9.0%

6%9% (Standard)15% (High Risk)

Terminal Perpetual Growth2.5%

1% (GDP Floor)2.5% (Inflation)4.0%

Net Debt ($M)$8,200M

-$100B CashBalance Sheet+$150B Debt

10-Yr PV of Cash Flows

$11.3B

PV of Terminal Value

$16.5B

Implied Enterprise Value

$27.8B

Implied Equity Value

$19.6B

Year	Yr 1	Yr 2	Yr 3	Yr 4	Yr 5	Yr 6	Yr 7	Yr 8	Yr 9	Yr 10
Projected FCF ($M)	$1,028	$1,213	$1,431	$1,689	$1,993	$2,082	$2,176	$2,274	$2,376	$2,483
Present Value (PV)	$943	$1,021	$1,105	$1,196	$1,295	$1,242	$1,190	$1,141	$1,094	$1,049

Benjamin Graham & Buffett Value Models

Classical deep value metrics based on asset backing, normalized earnings power, and owner cash yield.

Graham Number-34.7% Premium

$17.22

Calculated as √(22.5 × EPS × BVPS). The maximum theoretical price a defensive investor should pay based purely on asset book value and current earnings.

EPS: $0.86BVPS: $15.32

Revised Graham Formula+18.3%

$28.38

Formula: V = (EPS × (8.5 + 2g) × 4.4) / Y where g is the conservative 7-10 yr growth rate and Y is AAA Bond Yield.

Growth Rate (g%)

Bond Yield (Y%)

Buffett Owner Earnings5.3% Yield

$1.23 / share

True distributable cash flow: Net Income + D&A - Maintenance CapEx. Reflects the cash Buffett would extract without hurting unit volume.

Total: $0.8BYield: 5.3%

Reverse DCF: Market Growth Expectation

MODEST BARRIER

4.2% CAGR (Next 10 Yrs)

At the current price of $23.19, the market is assuming the business will compound Free Cash Flow at 4.2% per year for the next decade with a 9% hurdle rate.

Value Investor Verdict

✓ Low market hurdle: Easy for a wide-moat compounder to beat.

Autonomous Thesis Underwriting

Surveil KIM with Mathematical Margin of Safety Rules

Set non-negotiable floor rules for Kimco Realty Corporation (HC). If a newly filed quarterly 10-Q breaks your ROIC floor, operating margin boundary, or balance sheet leverage rules, receive an autonomous breach audit within 15 minutes.

Buffett Quality

ROIC > 15% • Margin > 15% • D/E < 0.5x

Margin Floor Guard

Current Margin 36.6% • Floor > 10%

Solvency Guard

Altman-Z > 2.6 • Current Ratio > 1.5x

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Frequently Asked Questions: Kimco Realty Corporation (HC) (KIM) Intrinsic Valuation

Audited fundamentals, DCF intrinsic value sensitivity, and thesis break detection parameters for Kimco Realty Corporation (HC).

Based on institutional multi-stage Discounted Cash Flow (DCF) modeling on audited SEC cash flows, Kimco Realty Corporation (HC) has an estimated DCF intrinsic fair value of $29.31 per share compared to its current market price of $23.19. This represents an estimated 20.9% margin of safety (trading below fair value). Additionally, its classic Benjamin Graham Number stands at $17.22.